FY23 Results Presentation

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#1Results Presentation FY 2023 APM APM Human Services International Limited H. APM enabling better lives#2Acknowledgement of Country and Traditional Owners APM acknowledges the Traditional Custodians of the lands on which we live. We pay our respects to Elders, past and present, of all Aboriginal and Torres Strait Islander nations. Globally, APM recognises the significance of indigenous peoples' communities and the important role they play within our own workforce and the world, underpinning our efforts to build a culture that embraces diversity, equality and inclusion. 'Boodja' by Kevin Bynder 2022#3FY23 Results Agenda FY23 results summary 4 Results Overview 5 Results Financials 10 Strategy and Outlook 18 Today's Presenters APM 100 enabling better lives FY23 Results Presentation | August 2023 Megan Wynne Executive Chair & Founder Michael Anghie Group CEO Steve Fewster Group CFO Matt Cooper Group Deputy CFO 3#4Delivering on strategy APM's 14,750+ team members support more than 2.1 million people in local communities each year across 1,700 sites and 11 countries Growth in underlying financial performance YOY since listing Revenue $1,896.4 million 43% pcp² 37% CAGR³ Underlying EBITDA¹ $365.0 million 19% pcp² 25% CAGR³ Underlying NPATA $178.2¹ million 7% pcp² 18% CAGR³ Underlying earnings per share of $0.191 7% pcp² 18% CAGR³ Progress against our strategy Expansion into new programs and renewal of key contracts Successful mobilisation of new contracts - Workforce Australia and Canadian RSVP contract Strategic acquisitions and integration creating growth platforms in US, Health and Wellbeing and NDIS Continuing to build a geographically diverse market leading Health and Human Services business (1) APM 100 enabling better lives FY23 Results Presentation | August 2023 (2) Underlying excludes incremental costs associated with corporate development, integrations, and debt refinancing (see pages 24 and 25 for a reconciliation of EBITDA, NPATA and EPS and NPATA) pcp-prior comparative period (3) CAGR compound annual growth rate since listing comparing FY21 to FY23#5TOTIS GRNSTR APM enabling better lives FY23 Results Presentation | August 2023 FY23 Results Overview Image: Eliza - APM Self Employment Assistance Program 5#6APM's Health and Human Services deliver sustainable social impact APM's 14,750+ team members support more than 2.1 million people in local communities each year across 1,700 sites and 11 countries espect APM Employment Services Working with governments to deliver services to individuals who require support to find work, including those with injury, illness or disability, sole parents, youth, aged workers, ex-offenders, first nations people and people from culturally or linguistically diverse backgrounds. Health and Wellbeing Delivery of private, government, insurance and corporate health programs focused on prevention, rehabilitation (medical, psycho- social and vocational), allied health and psychological intervention services. Disability and Aged Care Support Services Support services catering to the disability and aged care sectors including plan management, support coordination and an on- demand home care services market place. Represents a growth opportunity for APM. Communities and Assessments On behalf of Government, APM works with individuals to develop support plans for funded and non-funded support services. APM operates community- based programs in the youth, justice and veterans' sectors. APM 100 enabling better lives FY23 Results Presentation | August 2023 6#7APM is focused on creating long-lasting social impact united by our common purpose of enabling better lives United Sustainable Nations Development Goals APM services support the achievement of the United Nations Sustainable Development Goals (SDGs), which aim to end poverty and inequality, and ensure that all people enjoy health, justice and prosperity, while protecting our planet for the future. 5 DECENT WORK & ECONOMIC GROWTH GOOD HEALTH & WELL-BEING GENDER EQUALITY 10 REDUCED INEQUALITIES Decent Work and Economic Growth Good Health and Well-Being Gender Equality ▸ Reduced Inequalities 17 PARTNERSHIPS FOR THE GOALS Partnerships for the Goals Our Clients Our services help people with injury, illness or disability, children through to older adults, unemployed people, and those facing hardship or harm to positively impact both their lives and the communities they live in. Our focus in on enhancing a person's health and wellbeing, independence, employability, and social economic participation in their community. 1,276,139 Job seekers assisted 278,516 People with disability supported 152,387 People with mental health needs supported 34,016 People with disability assisted into sustainable employment Our People We seek to provide a safe and inclusive workplace, supporting our more than • • 14,750 people by focussing on: • Strong culture and sense of belonging • Diversity, equity and inclusion Engagement and professional development Health, safety and wellbeing Our Communities We are embedded in local communities in the 1,700 locations in which we operate and support strategic partnerships that contribute to our purpose of enabling better lives: • Community engagement and partnerships • Thought leadership and research • Social and economic impact APM enabling better lives FY23 Results Presentation | August 2023 7#8APM 100 enabling better lives Strong revenue growth and resilient earnings platform $1,896.4m (1) (2) (3) REVENUE $178.2m 43% on FY22 UNDERLYING ΝΡΑΤΑΊ $365.0m $0.10ps 72.4% 7% on FY22 FY23 CASH CONVERSION² 23% on H1 FY23 Second half year cash conversion 83.4% $183.2m ORGANIC REVENUE GROWTH UNDERLYING EBITDA1 19% on FY22 FY23 TOTAL DIVIDENDS3 FULLY FRANKED Underlying excludes incremental costs associated with corporate development, integrations, and debt refinancing (see page 24 for a reconciliation of EBITDA and NPATA) Underlying H2 FY23 operating cash (statutory operating cash adding back cash income, tax paid, net finance costs and underlying adjustments) as a percentage of H2 FY23 underlying EBITDA $0.10 per share equates to mid-range of dividend policy of between 40% to 60% of NPATA in the period FY23 Results Presentation | August 2023 8#9Delivering on our Growth Strategy in FY23 Deliver market leading performance driving organic growth platform Optimise Operational Performance of Strategic Acquisitions Enter new markets and Assess and complete expand depth and breadth >> accretive strategic of service offering acquisitions Disability™ Employment Services NATIONAL CITIZEN DES client reallocation and awareness campaign increasing market share, with current program extended for 2 years to 30 June 2025 DWP Work & Health Programme (UK) 2 year contract extension Ingeus awarded new generation National Citizen Service (NCS) Trust program delivery EQUUS WORKFORCE SOLUTIONS ndis Integration of Equus within US APM group operations now across 42 States and territories providing a platform for organic growth Developing an NDIS platform to provide high quality, evidence based and compliant services for participants to help them achieve their life goals and participate in social and economic life Ontario Ministry of Labour, Training and Skills Development Department for Work & Pensions Job Corps Ottawa Region contract award in Phase 2 Ontario Employment Services Transformation Program Awarded A$720 million contract to deliver Functional Lot 3- Assessment Services in London, South-East and East Anglia over five years expected to commence H1 FY25 Expansion in the US through award of 4 additional Job Corps contracts Equus WORKFORCE SOLUTIONS everyday independence Equus acquisition completed in November 2022 increasing scale in North America Everyday Independence acquisition completed in January 2023 growing NDIS service offering springday Completed acquisition of Springday expanding APM's digital health offering WorkBC Canadian BC Contract Extension to 2027 APM Organic growth in Australian enabling better lives Health and Wellbeing business 17% APM enabling better lives Continued investment in Health and Wellbeing business through attraction and retention of talent and investment in system APM enabling better lives FY23 Results Presentation | August 2023 Commenced Canadian National Rehabilitation Services and Vocational Assistance Program (RSVP) 9#10APM enabling better lives FY23 Results Presentation | August 2023 FY23 Results Financials Image: Scott, Kyle's Employer – APM Employment Services 10#11Strong growth in revenue and earnings • Revenue up $565.7m (43% pcp) to $1,896.4m Strong growth through execution of our strategy: Organic growth of $183.2m or 14% Contribution from strategic acquisitions of Everyday Independence in Australia and Equus in the US Refer Appendix for country revenue analysis Underlying EBITDA up $57.0m (19% pcp) to $365.0m Group EBITDA margin lower in FY23 driven by APM's diversification strategy supporting sustainable growth (see slide 22): Changes in geographic mix with greater contribution from US and Canadian businesses which have a lower margin profile given they are predominantly fixed fee / cost plus contracts Investment in the attraction and retention of talent and systems to support growth of the Allied Health and NDIS business Underlying NPATA up $11.9m (7% pcp) to $178.2m Underlying NPATA growth despite an increase in interest rates and tax UK tax rate increased from 19% to 25% APM enabling better lives FY23 Results Presentation | August 2023 A$m FY23 FY22 Growth Australia and New Zealand 816.7 680.4 20% Rest of World 436.6 432.9 1% North America 643.1 217.4 196% Revenue 1,896.4 1,330.7 43% Underlying EBITDA 1,3 365.0 308.0 19% Margin % 19.2% 23.1% Australia and New Zealand 85.1 97.5 -13% Rest of World 49.6 57.2 -13% North America 43.5 11.6 275% Underlying NPATA 178.2 166.3 7% Margin % 9.4% 12.5% Statutory NPATA 158.5 92.4 72% 1. EBITDA earnings before interest, tax, depreciation and amortisation 2. NPATA Net profit after tax and before contract amortisation 3. Refer page 24 for a reconciliation of underlying EBITDA to statutory EBITDA and underlying NPATA to statutory NPATA 11#12Robust balance sheet with scope to fund growth initiatives • • Growth in net assets The acquisition of Equus and Everyday Independence in November 2022 and February 2023 respectively, increased working capital, intangibles, lease liabilities and borrowings Refer to Appendix for detailed balance sheet • Liquidity position APM has available cash and capacity in debt facilities of $366.4m Balance Sheet (A$m) FY23 FY22 Current Assets 684.1 532.5 Non-current Assets 2,462.7 2,146.0 Total Assets 3,146.8 2,678.5 Current Liabilities (416.8) (364.0) Non-Current Liabilities (1,232.5) (834.8) Total Liabilities (1,649.3) (1,198.8) Net Assets 1,497.5 1,479.7 Debt A$m FY23 FY22 • Weighted average debt duration of 3.8 years Total facilities 1,140.0 840.0 Drawn¹ • Net debt to EBITDA of 2.4x with target leverage of 2.0x in the absence of accretive acquisitions (880.4) (602.7) Available facilities 259.6 237.3 Cash 106.8 171.4 Total Liquidity 366.4 408.7 1. Drawn $880.4m includes Non-Current Bank Loans (note 16) $866.1m add capitalised borrowing cost $8.5m and Bank Guarantees secured by facility $5.8m APM 100 enabling better lives FY23 Results Presentation | August 2023 12#13Cash flow conversion returning to historical levels • • Adjusted Operating Cash Flow of $264.3 million . H2 Cash conversion 83.4% FY23 cash conversion of 72.4% below trend due to lower H1 conversion given timing of acquisition of Equus, seasonality of US debtors and mobilisation and ramp up of contracts Net working capital increased by $93.1m to support the above FY24 cash conversion will remain above 85% post investing in mobilisation of known contracts Investing Activities • CAPEX for new contracts and sustaining items - $18.5m • • . Development of proprietary service delivery platforms - $28.1m Acquisitions of businesses (Equus & Everyday Independence) - $283.8m Financing Activities Drawn debt increased by $265.1m due to business acquisitions Dividends of $91.7m paid during FY23 Interest and lease costs increased by $34.3m due to business acquisitions APM FY23 Results Presentation | August 2023 enabling better lives Cash Flow A$m Underlying EBITDA FY23 365.0 308.0 FY22 Mov't 57.0 Statutory operating cash flow 204.4 217.1 (12.7) Add: net interest (1.1) (0.2) (0.9) Add: income taxes paid 39.3 28.3 11.C Add: underlying adjustments 21.7 36.3 (14.6) Underlying operating cash flow 264.3 281.5 (17.2) Underlying cash conversion % 72.4% 91.4% Statutory Operating cash flow 204.4 217.1 (12.7) Investing activities (329.4) (252.2) (77.2) Financing activities 60.5 100.9 (40.4) Net cash movement (64.5) 65.8 (130.3) Opening cash flow 171.4 106.8 Net cash movement (64.5) 65.8 Net FX movements (1.2) Closing cash balance 106.8 171.4 13#14Cash Flow Bridge Highlights I I 1 30-Jun-22 Cash 171.4 EBITDA (inc Leases) Cash EBITDA ($272.2m) after adding back leases ($61.2m), underlying adjustments ($21.7m) and non-cash items ($10.2m) (67.6) 125.6 2 (54.5) (21.3) (46.2) 4 5 107.4 Working Capital APM enabling better lives FY23 Results Presentation | August 2023 Investing Cash Flow & Income Tax Interest Paid Div's & Distributions (2) Working capital movements in the second half resulted in operating cash conversion of 83.4%. Lower cash conversion in H1'23 was driven by contract ramp-up and seasonality in the US 3 31-Dec-22 Cash EBITDA (inc Leases) Capital expenditure of $46.6m was 2.3% of revenue, expected to be lower in FY24. Cash tax of $39.3m full year, was high in H1 due to timing of FY22 cash tax payments ($12m) Inclusive of I acquisition purchase price and funding (22.8) 2 (47.9) 146.6 3 (29.7) (46.8) 5 106.8 Working Capital Investing Cash Flow & Income Tax Interest Paid 4 Cost of debt increased as interest rates increased through year, in addition to acquisition debt to acquire Equus and Everyday Independence Div's & Distributions 5 30-Jun-23 Cash Payments relate to the final FY22 dividend of $45.9m and the first half FY23 interim dividend of $45.9m, both in- line with APM's policy of 40% to 60% of NPATA 14#15Australia & NZ Highlights FY23 summary Underlying growth in operations financial performance Revenue increase of $136m predominantly driven by Health and Wellbeing business growth Mobilised Workforce Australia contract during the period with lower client flow across employment services offset by performance Margin lower due to the continued investment in Allied Health and NDIS businesses and initial year of Workforce Australia Interest costs incurred in Australia and a higher effective tax rate of 29% in FY23 Outlook and strategic priorities Margins will expand as Health continues to grow a scale Employment Services: Focus on client engagement, achieving sustainable employment outcomes and contract performance Health and Wellbeing: Continued investment to meet growing market demand and optimise performance through scale New opportunities: Employment Services, Health and Wellbeing, Disability and Ageing APM enabling better lives FY23 Results Presentation | August 2023 Revenue Year on Year ($m) 816.7 680.4 FY22 FY23 $816.7 million Revenue NPATA¹ Year on Year ($m) 119.72 120.12 22.2 35.0 97.5 85.1 +136.3m/20% FY22 on FY23 - 12.4m / (13)% FY22 on FY23 (including interest) + 0.4m / 0% FY22 on FY23 (excluding interest) FY22 FY23 1. NPATA - Net profit after tax and before contract amortisation before underlying adjustments (refer page 24 for reconciliation) 2. After adjusting for interest including both debt and IFRS 16 financing charges (tax effected) 15#16North America Highlights $643.1 million Revenue FY23 summary Revenue growth of $426m includes the contribution from the Equus acquisition together with organic growth achieved in Canada with the mobilisation of contract awards Margin improvement in FY23 is due to greater contribution from performance contracts such as the Work BC contract returning to payment by results Outlook and strategic priorities • Employment Services: Platform to drive organic growth in a US$20bn US Employment Services market and expand in Canada through the Ontario Employment Services Transformation Program and Work BC contract extension to 2027 Health and Wellbeing: Full year of RSVP contract which commenced in January 2023 New Opportunities: Employment Services, Job Corps and Homelessness Services Revenue Year on Year ($m) 217.4 FY22 643.1 FY23 NPATA¹ Year on Year ($m) 11.6 FY22 FY23 APM enabling better lives FY23 Results Presentation | August 2023 +425.7m/196% FY22 on FY23 +31.9m/275% FY22 on FY23 43.5 1. NPATA - Net profit after tax and before contract amortisation before underlying adjustments (refer page 24 for reconciliation) 16#17APM enabling better lives Rest of the World Highlights $436.6 million Revenue FY23 summary Revenue in line with FY22 with lower volumes than anticipated in the Restart program offset by strong outcomes and growth in Sweden Revenue Year on Year ($m) + 3.7m/1% FY22 on FY23 432.9 436.6 Awarded new National Citizens Service Trust contract which commenced in FY23 Performance is consistent with prior year prior to taxation with FY23 impacted by an increase in the corporate tax rate from 19% to 25% Outlook and strategic priorities • Communities & Assessment: Functional Assessments Service contract award in UK to continue to be mobilised in FY24 and go live FY25 Employment Services: Work Health Program Pilot "Pioneer Support" to assist 'economic inactive' New Opportunities: Justice, Health and Employment FY22 FY23 NPATA¹ Year on Year ($m) 7.6m/ (13)% FY22 on FY23 57.2 49.6 FY23 Results Presentation | August 2023 1. FY22 FY23 NPATA - Net profit after tax and before contract amortisation before underlying adjustments (refer page 24 for reconciliation) 17#18Strategy and Outlook Image: Hani - Ingeus Singapore Career Matching participant APM enabling better lives FY23 Results Presentation | August 2023 18#19Priorities and Outlook APM is uniquely positioned to expand its services globally partnering with Stakeholders to deliver programs that create sustainable social and economic impact We strive to deliver medium term underlying earnings growth in the mid-teens with strong cashflow conversion through the execution of our organic and inorganic growth strategy Operational Outlook: • . • • • Expansions of existing programs to support medium term growth FY24 mobilisation of newly awarded contracts will go live and contribute incremental revenue of $125m+ in FY25 Employment Services growth to be subdued in FY24 due to low unemployment rates reducing client flows into employment programs Client flows in Employment Services may change through an increase in unemployment rates and/or policy shifts Health and Wellbeing expected to continue to grow as we continue to invest to attract and retain talent, in systems and the expansion of service reach North American business expected to grow on the back of recent contract awards and the Equus acquisition • Assessment of pipeline of strategic accretive acquisitions Cashflow and balance sheet: • FY24 cash flow conversion is expected to be greater than 85% FY24 Key Priorities Continue investment in Health and Wellbeing Growth sector which has significant unmet demand • Drive efficiency • Integration and optimisation of recent acquisitions Enhance quality outcomes for our clients/customers New business • Convert strong pipeline of new contract opportunities No key contracts are due for renewal in FY24 or FY25 • Functional Assessment Services Mobilisation of contracts Ontario Employment Transformation Job Corps Existing clients Deliver strong outcomes for our clients • • . Engage clients M&A Continue to assess and execute strategic accretive M&A APM 100 enabling better lives • Leverage expected to reduce noting APM may consider debt to fund acquisitions FY23 Results Presentation | August 2023 19#20Investment Proposition APM is positive social impact company delivering strong financial performance. Our market leadership and scale globally provides a unique platform to support more people through our services and for continued growth Exposure to Large and Growing Markets with sector tailwinds - Total Addressable Market of $100bn+ Long-tenured programs supported by increase in demand and social services expenditure Consistent delivery of positive social impact Proven ability to partner with key Government stakeholders Scalable platform across multiple jurisdictions and programs Experienced management team with a strong track record of delivery in key markets History of strong financial performance and cashflow conversion supporting growth and payment of dividends Track record of business resilience and delivering quality outcomes for those supported driving organic growth APM's services deliver a sustainable social and economic impact APM enabling better lives FY23 Results Presentation | August 2023 20 20#21Image: Kyle - APM Employment Services Participant Contact details Approved for release by the Board of APM Human Services International Limited KYLE Vision Impaired For further information please contact: Investors Matt Cooper Deputy Group Chief Financial Officer E: [email protected] P: +61-403 604 915 Media Adrian Bradley General Manager - Corporate Affairs E: [email protected] P: +61-2 6214 8800 APM enabling better lives FY23 Results Presentation | August 2023 in f 21 221#22Appendix APM enabling better lives#23Large global footprint with diversified sources of revenue FY21 FY23 Revenue by Service Line 2% 2% Employment Services 7% Expanding depth and breadth of services 14% 17% Health & Wellbeing 13% 71% 74% Revenue by Geography Global footprint, expanding into new markets and a growing addressable market 13% Communities and assessments Disability and aged care services Australia & New Zealand 34% 43% ■Rest of World 31% 56% 23% Revenue by Fee Model 19% 23% 39% 52% 29% 37% APM FY23 Results Presentation | August 2023 enabling better lives North America ■ Service / Outcome Fee ■ Cost Plus / Fixed Fee ■Fee for service 23 222#24APM enabling better lives Return on government investment for key programs Rehabilitation and injury prevention in Australia 28x-32x For every dollar invested 4 NCS Youth Program 3.1x 5 For every dollar invested Mental Health in Australia Employment in Australia 33x 1 2.3x³ For every dollar invested Over lifetime Restart employment Program 6 2.4x For every dollar invested Employment in the United Kingdom 4.5x 2 Over proceeding 4 years Increasing the ability for jobseekers to participate in the labour market, and supporting the Health and Wellbeing of our clients supports government, employers and the community through: increased social participation and economic contribution reduced spend on welfare programs and government budgets ⚫ increased GDP • greater supply of labour for employers improved standard of living, greater financial security, social inclusion, and mental health benefits for employees (1) $471 billion / $0.38 million sourced from 30 June 2018 actuarial valuation undertaken by the Department of Social Services. 33x= $380,000/$11,500 (2) Work Programme is the predecessor contract to the Work and Health Programme in the UK. Value source The Work Programme - a quantitative assessment (Department of Works and Pensions, November 2020) (3) Creating a mentally healthy workplace - Return on investment analysis (PWC, March 2014) (4) Australian Rehabilitation Providers Association Submission to The Productivity Commission Draft Report on "A Better Way to Support Veterans" (February 2019). FY23 Results Presentation | August 2023 24#25Reconciliation of underlying to statutory EBITDA and NPATA A$m Australia and New Zealand Rest of World FY23 FY22 Ref A$m 85.1 97.5 Underlying EBITDA 49.6 57.2 A. Acquisitions, IPO and integrations North America Underlying NPATA 43.5 11.6 B. Extinguish pre-IPO MEP Plan 178.2 166.3 C. Foreign exchange impact 3.9 D. Employee IPO Gift Australia and New Zealand (16.0) (86.0) Total EBITDA Adjustments FY23 FY22 365.0 308.0 (25.6) (36.3) (10.5) (9.7) (5.1) (21.7) (61.6) Rest of World (0.1) 12.4 Statutory EBITDA 343.3 246.4 North America (3.6) (0.3) Underlying Adjustments (19.7) (73.9) Underlying NPATA 178.2 166.3 Acquisitions, IPO and integrations (25.6) (36.3) E. Australia and New Zealand 69.1 11.5 Extinguish pre-IPO MEP Plan (10.5) Rest of World 49.5 69.6 Foreign exchange impact 3.9 (9.7) North America 39.9 11.3 Employee IPO Gift Statutory NPATA 158.5 92.4 E. Debt refinance F. Capital structure (5.1) (2.6) (24.7) (31.7) G. Tax expense adjustment H. Tax effect adjustments (1.6) 22.6 6.2 21.4 Total NPATA Adjustments Statutory NPATA APM enabling better lives FY23 Results Presentation | August 2023 (19.7) (74.0) 158.5 92.3 Adjustments A. Acquisitions, IPO and integrations – integration, external advisory fees and IPO costs B. Extinguish pre-IPO MEP - As a result of the Offer, the Management Equity Plan was fully vested and expense in the income statement C. Foreign exchange impact – FX impact on fluctuations on USD denominated debt and intercompany loans D. Employee IPO Gift - on IPO, APM offered a gift of shares to qualifying employees Debt refinance - expense associated with APM's refinance of the first and second lien term loan facility to an all first lien facility in July 2021 and July 2022 F. Capital structure - proceeds from the IPO were used to pay down debt and subsequently reduce the interest expense. This adjustment assumes the go forward capital structure was in place for the entire period reported (including shareholder interest from the redeemable preference shares) G. Tax expense adjustment - FY23 deferred tax impact of losses brought on balance sheet in the UK H. Tax effect adjustments - recognize the tax effect of the abovementioned adjustments (note: shareholder interest expense is non-deductible for Australian tax purposes). 25#26Reconciliation of underlying operating cash flow and EPS Cash Flow A$m Underlying Operating cash flow Underlying Operating cash% FY23 H2'23 H123 FY22 EPS A$m 264.3 165.0 99.3 281.5 Underlying NPATA 72.4% 83.4% 59.3% 91.4% Weighted average number of ordinary shares (actual) Underlying EPS ($'s) FY23 178.2 917,181,946 0.19 Reverse underlying adjustments (21.7) (9.3) (12.4) (36.3) Tax paid (39.3) (7.3) (32.0) (28.3) Non-Controlling Interests (1.3) Interest received Contract Amortisation 1.1 0.5 Statutory Operating cash flow 204.4 148.9 0.6 55.5 0.2 217.1 (49.8) Underlying Adjustments (net of tax) 1 (19.7) Total Adjustments (70.8) Capital expenditure (46.6) Acquisitions Investing activities (26.4) (20.3) (70.9) (282.8) (35.1) (247.7) (181.3) (329.4) (61.4) (267.9) (252.2) Statutory Profit attributable to ordinary Equity holders Weighted average number of ordinary shares (actual) Statutory EPS ($'s) 107.4 917,181,946 0.12 Proceeds from shares Net borrowings 265.6 19.4 246.2 Lease expense (61.2) (31.8) (29.4) 331.8 (153.0) (44.9) Interest expense (51.0) (29.7) (21.3) (33.0) Dividends and distributions (92.9) (46.8) (46.2) Financing Activities 60.5 (88.8) 149.3 100.9 Opening cash 171.4 107.4 171.4 106.8 Net cash flow (inc FX mov't) Closing cash (64.5) (0.5) (64.0) 64.6 106.8 106.8 107.4 171.4 APM 1. FY23 Results Presentation | August 2023 enabling better lives Underlying adjustments include incremental costs associated with corporate development, integrations, and debt refinancing (see page 24 for details) 26 26#27Revenue by country A$m CAGR H1'21 H2'21 FY21 H1'22 H2'22 FY22 H1'23 H2'23 FY23 (FY21 - FY23) Australia 260.9 267.9 528.7 300.2 343.6 643.9 369.4 408.0 777.4 21.3% New Zealand 22.8 20.7 43.5 18.0 17.4 35.5 19.1 18.3 37.4 -7.3% Australia and New Zealand 283.7 288.6 572.3 318.3 361.1 679.3 388.5 426.3 814.8 19.3% United Kingdom Korea Singapore 109.0 127.5 236.4 164.6 196.7 361.4 201.9 155.1 357.0 22.9% 16.0 16.5 32.5 14.5 17.2 31.7 15.9 19.5 35.4 4.4% 3.7 5.4 9.1 6.2 4.8 11.0 3.4 5.5 8.9 -1.1% Germany 8.1 7.5 15.6 8.7 8.7 17.4 9.2 9.8 19.0 10.4% Switzerland 3.2 3.0 6.2 2.7 2.8 5.6 2.4 3.6 6.0 -1.6% Sweden 4.7 4.7 5.6 5.0 10.6 0.0% Rest of World 140.0 159.9 299.9 196.8 234.9 431.7 238.4 198.5 436.9 20.7% Canada 20.9 37.4 58.2 41.2 41.8 83.0 60.7 49.5 110.2 37.6% United States 29.4 39.3 68.7 57.1 77.0 134.1 163.5 368.4 531.9 North America 50.2 76.7 126.9 98.3 118.8 217.1 224.2 417.9 642.1 178.3% 124.9% Other revenue Group Revenue 473.9 16.9 542.1 16.9 0.3 2.3 2.6 2.6 2.6 1,016.0 613.6 717.1 1,330.7 853.7 1,042.7 1,896.4 36.6% APM enabling better lives FY23 Results Presentation | August 2023 27 22#28Balance sheet and working capital reconciliation I A$m Cash and cash equivalents Jun'23 Dec'22 Jun'22 Acquired Value A$m Jun'23 Dec'22 Jun'22 106.8 107.4 171.4 4.4 Trade and other receivables 195.9 178.8 114.9 79.01 Trade and other receivables 195.9 178.8 114.9 Accrued revenue 337.8 302.6 190.3 Accrued revenue 337.8 302.6 190.3 63.81 I Prepayments 70.8 57.2 47.9 Prepayments & Other current assets 43.6 43.5 55.91 3.9 Trade and other payables (67.3) (78.0) (70.9) Current assets 684.1 632.2 532.5 151.1 Accrued expenses (141.1) (114.2) (87.9) Deferred revenue (138.7) (137.9) (139.6) Property, plant & Equipment 49.0 51.0 55.6 1.8 Provisions (91.7) (75.0) (76.4) Right of use assets 135.7 125.9 80.51 61.81 Working Capital 165.7 133.5 (21.7) I Intangible assets 2,199.8 2,117.8 1,968.4 1 261.1 Prepayments 27.2 21.7 9.4 Opening balance (21.7) (21.7) Net Movement (187.4) (155.2) Other non-current assets 51.0 52.2 32.0 23.4 Non-current assets 2,462.7 2,368.5 2,146.0 348.1 I Less Acquisitions and non-cash Trade and other payables (67.3) (78.0) (70.9) (13.8) Net Movement before acquisitions and non-cash 97.0 87.6 (90.4) (67.6) Accrued expenses (141.1) (114.2) (87.9) (40.3) Interest bearing liabilities (64.7) (71.1) (45.7) (21.5) Deferred revenue (78.1) (76.0) (87.5) i (0.3) Other current liabilities (65.6) (53.7) (71.9) 1 Current liabilities (416.8) (393.0) (364.0) (5.9) (81.8) Provisions (34.1) (31.2) (34.8) (1.9) Interest bearing liabilities (963.0) (914.6) (644.8) (55.4) Working capital and balance sheet When reviewing balance sheet movements (particularly accrued revenue and expenses) between Jun'22 and Jun'23, the acquisition dates of Equus in the US (Nov 22) and Everyday Independence in Australia (Feb'23) should be considered. Deferred revenue (60.5) (61.9) (52.1) Other non-current liabilities (174.9) (120.2) (103.1) (21.3) Non-current liabilities (1,232.5) (1,127.9) (834.8) (78.6) Jun 22 - Does not include Equus or Everyday Independence Dec 22 Includes Equus Net Assets 1,497.5 1,479.8 1,479.8 338.8 Jun 23 - Includes both Equus and Everyday Independence APM 1. FY23 Results Presentation | August 2023 enabling better lives Includes Equus, Everyday Independence, Springday and Human Psychology 28#29Important notice and disclaimer This presentation has been prepared by APM Human International Services Limited ACN 639 621 766 (Company). This presentation contains summary information about the Company and its subsidiaries (Group) and the business conducted by the Group as at 28 August 2023. The Financial Information contained within this presentation for the year ended 30 June 2023. The information in this presentation is general information only, in summary form and does not purport to be complete or comprehensive nor does it purport to summarise all information that an investor should consider when making an investment decision. This presentation should be read in conjunction with the Company's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange. This presentation is for information purposes only and is not a prospectus, product disclosure statement or other offering document under Australian law or any other law (and will not be lodged with ASIC or any other foreign regulator). Nothing in this presentation contains or purports to contain, an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities in the Company (Securities) nor does it constitute financial product or investment advice (nor taxation or legal advice) nor take into account your investment objectives, taxation situation, financial situation or needs. This presentation does not constitute an advertisement for an offer or proposed offer of Securities. Neither this presentation nor anything contained in it shall form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in, or refrain from engaging in, any transaction nor is it intended to be used as the basis for making an investment decision. The material contained in this presentation may include information, data, estimates and projections derived from publicly available sources or other third party sources that have not been independently verified by the Company. No representation or warranty is made as to the accuracy, completeness, or reliability of the information. Estimates and projections involve risks and uncertainties and are subject to change based on various factors. An investor must not act on the basis of any matter contained in this presentation but must make its own assessment of the Group and conduct its own investigation and analysis. Statements made in this presentation are made only as at the date of this presentation (unless otherwise stated). The information in this presentation is subject to change without notice. The Company has no obligation to update or correct this presentation, except as required by law. presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. All dollar values are in Australian dollars (A$), unless otherwise stated. A number of figures, amounts, percentages, estimates and calculations of value in this The operating and historical financial information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of the Company's views on the Group's future performance or condition. You should note that past performance of the Group cannot be relied upon as an indicator of (and provides no guidance as to) future Group performance. This presentation may contain forward-looking statements with respect to the operations and businesses of the Group. Forward-looking statements can generally be identified using words such as "may", "will", "would", "could", "expects", "intends", "anticipates", and other similar words that involve risks and uncertainties. The assumptions underlying these forward-looking statements involve circumstances and events that have not yet taken place, and which are subject to uncertainty and contingencies outside the Group's control. Readers are cautioned not to place undue reliance on any forward-looking statements. No representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward- looking statement in this presentation will actually occur. The Group does not undertake any obligation to publicly release the result of any revisions to forward-looking statements in this presentation or to otherwise update forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this presentation, except as required by law. To the fullest extent permitted by law, no representation or warranty (expressed or implied) is given or made by the Company, its subsidiaries, or its respective directors, officers, employees, or representatives (including agents or consultants) nor any other person in relation to the fairness, accuracy, completeness or correctness, likelihood of achievement or reasonableness of all or any part of this presentation and no responsibility for any loss arising in any way (including by negligence) from anyone acting or refraining from acting as a result of the material contained in this presentation is accepted by the Group. APM 100 enabling better lives FY23 Results Presentation | August 2023 29#30Glossary ASIC Australian Securities & Investments Commission H2 FY22 Period 1 January 2022 to 30 June 2022 ASX Australian Securities Exchange H1 FY23 Period 1 July 2022 to 31 December 2022 Capex Capital Expenditure H2 FY23 CEO Chief Executive Officer IPO Period 1 January 2023 to 30 June 2023 Initial Public Offering CFO Chief Financial Officer M&A Mergers and Acquisitions DES Disability Employment Services Mov't Movement DWP Department for Work and Pensions NDIS National Disability Insurance Scheme EBIT Earnings before interest and tax NCS National Citizen Service EBITDA Earnings before interest, tax depreciation and amortisation NPAT Net profit after tax FX Foreign Exchange NPATA Net profit after tax and amortisation FY21 Financial year ended 30 June 2021 PBT Profit before tax FY22 Financial year ended 30 June 2022 pcp Prior comparative period FY23 Financial year ended 30 June 2023 RSVP GDP Gross Domestic Product SDGs H1 FY21 Period 1 July 2020 to 31 December 2020 TANF H2 FY21 Period 1 January 2021 to 30 June 2021 WHP H1 FY22 Period 1 July 2021 to 31 December 2021 WIOA Rehabilitation Services and Vocational Assistance Program Sustainable Development Goals Temporary Assistance for Needy Families (US) Work and Health Programme Workforce Innovation and Opportunity Act (US) APM 100 FY23 Results Presentation | August 2023 enabling better lives 30#31APM enabling better lives

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